Pass Your MB-310 Exam Confidently Using the MB-310 Dumps (V22.02): Sharing MB-310 Free Dumps (Part 2, Q41-Q80)

1. HOTSPOT

You must configure journal controls in Dynamics 365 for Finance and Operations.

Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic

2. A legal entity has locations and customers in multiple states within the United States.

You need to ensure that taxable customers are charged sales tax for taxable items in their delivery location.

Which three settings must you configure? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

3. You need to configure the system to resolve User8's issue.

What should you select?

4. You work for a company that receives invoices in foreign currencies.

You need to configure the currency exchange rate providers and exchange rate types.

What should you do?

5. You need to address the posting of sales orders to a closed period.

What should you do?

6. You need to configure system functionality for pickle type reporting.

What should you use?

7. You need to ensure that User9's purchase is appropriately recorded.

Which three steps should you perform? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

8. HOTSPOT

A client confirms a safes order in Dynamics 365 for Finance and Operations. You are viewing the confirmed sales order.

9. DRAG DROP

You are a controller for a public sector organization. You need detailed fiscal tracking and reporting.

You need to set up fund types categorized under specific fund classes.

Which fund type can you set up for each fund class? To answer, drag the appropriate fund types to the correct fund classes. Each fund type may be used once, more than once, or not at all. You may need to dreg the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

10. You need to resolve the issue that User4 reports.

What should you do?

11. HOTSPOT

A client plans to use the cost accounting module in Dynamics 365 for Finance and Operations. You need to associate the correct definitions to the correct cost accounting concepts.

Which terms match the definitions? To answer, select the appropriate configuration in the answer area. NOTE: Each correct selection is worth one point.

12. You are configuring intercompany accounting for a multicompany enterprise. You need to set up: the Due to and Due from accounts.

Which main account type should you use?

13. You need to determine the cause of the issue that User1 reports.

What are two possible causes for the issue? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

14. You need to troubleshoot the reporting issue for User7.

Why are some transactions being excluded?

15. You are the controller for an organization. The company purchased six service trucks. You observe that your accountant set up Fixed assets - vehicles in the wrong fixed asset group.

You need to achieve the following:

• Change the fixed asset group so that the existing fixed asset transactions for the original fixed asset are canceled and regenerated for the new fixed asset.

• Ensure that all value models for the existing fixed asset are created for the new fixed asset Any information that was set up for the original fixed asset is copied to the new fixed asset.

• Close the old fixed asset number in the old fixed assets group and create a new fixed asset number in the new fixed assets group.

What should you do?

16. Topic 4, Adtum Corp.

Case Study

Overview

This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case. However, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.

To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.

At the end of this case study, a review screen will appear. This screen allows you to review your answers and to make changes before you move to the next section of the exam. After you begin a new section, you cannot return to this section.

To start the case study

To display the first question in this case study, click the Next button. Use the buttons in the left pane to explore the content of the case study before you answer the questions. Clicking these buttons displays information such as business requirements, existing environment, and problem statements. If the case study has an All Information tab, note that the information displayed is identical to the information displayed on the subsequent tabs. When you are ready to answer a question, click the Question button to return to the question.

Travel and expense

The company is currently In Phase 2 of their Dynamics 365 finance Implementation.

• Consultants submit all travel receipts by using inter-office mail to the team admin for processing, but first Up Consultants wants to modernise this experience.

• Expense reports are manually approved and signed by the employee's manager.

Finance

• First Up Consultants operates on a 4-5-4 calendar.

• Accounting, for revenue has been difficult with the SaaS offerings. This has led to implementing Dynamics 365 Finance Revenue recognition.

• Revenue recognition has been live for J months.

• Adatum Corporation pays Quarterly for use of the First Up Consultants web design

application, starting from the day of use

• Fourth Coffee pays monthly for use of the First Up Consultants photograph editing application, with a contract starting August I and payment starting September I.

• Adventure Works Cycles pays per use of the First Up Consultant video platform.

• A blocking rule is set up to prevent a sales order from processing if a customer exceeds a credit limit. - Customer credit is set up at the account level for VanArsdel, Ltd.

• Tailspin Toys is owned by Wingtip Toys. The companies have a credit limit of S60.000 and $100,000, respectively.

Tax

VAT tax recovery is required for eligible international business trip expenses. Bank reconciliation is manual and performed by using monthly mailed account statements.

The company collects vales taxes from the following states:

Requirements

Travel and expense

• First Up Consultants requires that employees start using corporate cards for all travel expenses.

• All expenses over the require a receipt.

• Beer cannot be expensed

• Employees may use the corporate card for personal expenses during work travel, but expenses must be categories correctly.

• Client entertainment expenses totaling more than $250 must be audited.

• Employees require a mobile expense experience

• Expense report entries must be validated when a transaction Iine is entered.

• Employees require the ability to capture receipt* by using a mobile device.

• First Up Consultants requires the ability to reimburse employees in their paychecks for expenses incurred on personal cards.

Financial

• A virtual thirteenth month is required for year-end transactions.

• Each day. a validation file must go to First Up Consultants" bank detailing all vendor checks paid.

• Except fees, all matched transactions must clear automatically during bank reconciliation.

• The accounts payable team must verify expense reports prior to posting.

• Only payables are allowed to be posted to a poor period up to seven days into the new period

Issues

• User1 Installed the expense Management Service add-in and implemented the auto-match and create expense from receipt features, but the receipt images do not match the corporate card transactions

• Employee 1 submits an expense report for a business trip to Europe, but the report is not visible on the expense tax recovery page.

• Employees prowled feedback that the system lets them know of an expense report policy violation only after the entire expense report is submitted.

• Members of the finance department observe sales orders that posted into a closed period.

• The finance team observed that for sales order invoice 1234. the price incorrectly posts to a revenue account when it should be deferring.

• Fmployee2 purchased supplies for a holiday patty and needs to be reimbursed

• A customer orders software licenses for the offices in Tennessee and Alabama

• Expense reports for unapproved items are posting.

• VanArsdel. Ltd. exceeded its credit limit but the sales order was processed.

• Tailspin Toys purchase $70,000 in custom software development

You need to configure the system to meet the fiscal year requirements.

What should you do?

17. You need to configure Accounts Receivable to take pre-orders.

Which feature should you use?

18. You need to identify the root cause for the error that User5 is experiencing.

What should you check?

19. HOTSPOT

You need to configure credit card processing for all three companies

Which option should you use? To answer, select the appropriate options m the answer area NOTE: Each correct selection is worth one point.

20. A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations.

The client currently uses a separate reporting tool to perform their financial consolidation and eliminations. They want to use Finance and Operations instead.

You need to configure the system and correctly perform eliminations.

Solution: Set up Elimination rules in the system. Then, run an elimination proposal. Configure the rules to post to any company that has Use for financial elimination process selected in the legal entity setup.

Does the solution meet the goal?

21. After you answer a question in this section, you will NOT be able to return to it As a result, these questions will not appear in the review screen.

A company is preparing to complete yearly budgets.

The company plans to use the Budget module in Dynamics 365 for Finance and Operations for budget management

You need to create the new budgets.

Solution: Combine budgets from multiple legal entities to a master budget.

Does the solution meet the goal?

22. DRAG DROP

A company needs to create budget plan templates for its budgeting process.

You need to create the budget plan templates.

In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.

23. After you answer a question in this section, you will NOT be able to return to it As a result, these questions will not appear in the review screen.

A company is preparing to complete yearly budgets.

The company plans to use-pie Budget module in Dynamics 365 for Finance and Operations for budget management

You need to create the new budgets.

Solution: Create budget plans to define the revenues for a budget.

Does the solution meet the goal?

24. HOTSPOT

The posting configuration for a purchase order is shown as follows:

Use the drop-down menus to select the answer choice that answers each question based on the information presented in the graphic. NOTE: Each correct selection is worth one point.

25. You need to enforce financial budgets for management and resolve User As issue.

What should you do?

26. A company provides employee life insurance to all full-time employees. Employee life insurance policies are paid twice a year to the insurance company. Transactions for current employees must be recognized in the general ledger twice a month with an employee's pay. Transactions for new employees must be recognized in the general ledger based upon the employee's first pay date.

You need to configure accrual schemes for the new fiscal year.

Which two configurations should you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

27. You are configuring Dynamics 365 for Finance and Operations,

You need to implement posting definitions for all available transaction types.

For which type of transactions can you implement posting definitions?

28. HOTSPOT

You need to prevent a reoccurrence of User2’s issue.

How should you configure the system? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

29. HOTSPOT

You need to configure the system to meet the budget preparation requirements.

What should you do? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

30. You are the accounts receivable manager of an organization. The organization recently sold machinery to a customer. You need to registers transaction for the sale of the machinery by using a free text invoice for fixed assets.

Which transaction type should you use?

31. A company is preparing to complete a year-end close process.

You need to configure the Dynamics 365 for Finance and Operations General ledger module.

Which three configurations must you use? Each correct answer presents part of the solution. NOTE: Each correct selection is worth one point.

32. Users are posting project transactions and bank transactions incorrectly in the General journal. The client wants to prevent this from happening in the future. You need to configure Dynamics 365 for Finance and Operations to limit the account type transactions to only ledger.

What should you do?

33. HOTSPOT

A food manufacturer uses commodities such as beans, corn, and chili peppers as raw materials. The

prices of the commodities fluctuate frequently. The manufacturer wants to use cost versions to simulate these fluctuations.

You need to set up cost versions and prices to accomplish the manufacturer's goal.

For which purpose should you use each costing type? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

34. Topic 6, Tailspin Toys

Overview

Tailspin Toys is a toy manufacturing company that sells to distributors and customers through a business-to-consumer website. Tailspm Toys has been using custom developed software for their accounting and supply chain management needs.

Tailspin Toys has toy factories in Mexico and Canada, with a head office based out of the United States. Tailspin Toys is currently operating with various financial departments including accounts payable, accounts receivable, fixed assets, and general accounting. The company has multiple legal entities to support their manufacturing units and selling organization.

Tailspin Toys wants to maintain consistent growth as a company and is now implementing Dynamics 365 Finance for all business processes.

Current Environment

Vendors

• Tailspin Toys works with local and foreign vendors.

• The procurement process is designed for manufacturing raw materials, finished products, and packing materials for toys.

• The company monitors vendor balances by local and foreign vendors, both appearing in different general ledger accounts.

• For vendor payments, the accounts payable manager generates payment proposals every Wednesday, to have approvals and check printing done by Thursday in order to mail the checks by Friday of each week.

• Vendors can take part in the incentive program that offers travel vouchers and other gifts based on quantity and quality of supplies at the end of the year.

• Incentive program data is being monitored outside of the system and qualifying vendors are then provided to the financial department for expenses.

• The finance department accrues a small percentage of every vendor invoice during the year for this purpose, booking accounts payable liability account offsetting to the incentive expenses account.

• The finance department accrual then allows management to easily make decisions regarding types of gifts and vouchers to provide to the top-performing vendors.

Reporting

• Management gets periodic reports from the finance department for all the legal entities. These reports provide all required finance data and are comprised of balance sheets, income statements, and cash flow statements.

Budget planning

• The finance department oversees all budget planning.

• The finance department estimates the baseline for all budgets and distributes them to the respective departments.

• Each department estimates and forecasts their budget and sends it back to the finance department where the budget is updated accordingly.

Expenses

Utility bills for the toy factories are currently getting expensed to the following departments as per the listed breakdown.

Asset teasing

Tailspin Toys has leased assets in the form of factory buildings and warehouses. The company maintains asset books for the monthly leasing payments and pays compound interest on them. Tailspin Toys maintains future forecasts of their payment projections and budget requirements for leasing payments.

Requirements

Consolidation

• Automatic foreign currency consolidation at the corporate level is required by Tailspin Toys' leadership.

• Consolidated results are needed in multiple reporting currencies.

Expenses

• Utility bills must be allocated to allow each department to expense the correct amount.

Reports

• Leadership requires financial reports to come to their inbox automatically as one at the end of every month.

Vendors

• The system must show accounts payable liability by type of vendor similar to how it works in the current system.

• The chief financial officer (CFO) wants to configure the system to follow their business policies of paying vendors every Friday and as per credit issued by vendors and agreed method of payments.

• The accounts payable administrator must automate the vendor invoice process for imported invoices to bypass the review stage when no discrepancy is determined.

Budgets

• A new organizational hierarchy is required for budget planning purposes.

• Leadership wants financial budgets enforced by alerting users upon reaching 90% of the total budget.

Asset leasing

• The CFO must automatically process payments and journal entries for the leased properties.

• Management must view payment forecasts based on leased assets.

Issues

Accounts payable issues

• Vendor liability information for local and foreign vendors is not separated in the system.

• The accounts payable manager observed that a percentage of each invoice paid to vendors is not being posted for the yearly incentives program.

• The accounts payable clerk had to manually invoice a vendor receipt during user acceptance testing.

• The accounts payable manager must automate the current process of vendor payment proposals.

Other issues

• The differences resulting from consolidating subsidiaries with foreign currencies are not considered.

• User A confirmed they did not receive an alert before running out of their budget.

• Expense reports for the manufacturing and sales departments do not contain utility bill expenses.

• The accounting manager reported that there is no batch journal created for the monthly lease expenses.

DRAG DROP

You need to resolve the accounts payable manager issue and resolve the user acceptance testing bug reported by the accounts payable clerk.

How should you configure the system? To answer, move the appropriate Value to the correct Parameter. You may use each Value once, more than once, or not at all. You may need to move the split bar between panes or scroll to view content. NOTE: Each correct selection is worth one point.

35. You are setting up the Accounts payable module and vendor invoice policies for an organization.

You need to set up vendor invoice policies that run when vendor invoices are posted in the system.

In which two ways can you set up the policies? Each correct answer presents a complete solution. NOTE: Each correct selection is worth one point.

36. 1. Topic 1, Fourth Coffee Case Study

Case study

This is a case study. Case studies are not timed separately. You can use as much exam time as you would like to complete each case . How ever, there may be additional case studies and sections on this exam. You must manage your time to ensure that you are able to complete all questions included on this exam in the time provided.

To answer the questions included in a case study, you will need to reference information that is provided in the case study. Case studies might contain exhibits and other resources that provide more information about the scenario that is described in the case study. Each question is independent of the other questions in this case study.

At the end of this case study, a review screen will appear. This screen allows you to review your

answers and to make changes before you move to the next section of the exam. After you begin a

new section, you cannot return to this section.

To start the case study

To display the first question in this case study, click the Next button. Use the buttons in the left pane

to explore the content of the case study before you answer the questions. Clicking these buttons

displays information such as business requirements, existing environment, and problem statements.

If the case study has an All Information tab, note that the information displayed is identical to the

information displayed on the subsequent tabs. When you are ready to answer a question, click the

Question button to return to the question.

Background

Fourth Coffee is a coffee and supplies manufacturer based in Seattle. The company recently purchased CompanyA, based in the United States, and CompanyB, based in Canada, in order to increase production of their award-winning espresso machine and distribution of their dark roast coffee beans, respectively.

Fourth Coffee has set up CompanyA and CompanyB in their Dynamics 365 Finance environment to gain better visibility into the companies' profitability. CompanyA and CompanyB will continue to operate as subsidiaries of Fourth Coffee, but all operational companies will be consolidated under Fourth Coffee Holding Company in US dollars (USD) for reporting purposes.

The current organizational chart is shown below:

Current environment

Systemwide setup

* Dynamics 365 Finance in Microsoft Azure is used to manage the supply chain, retail, and financials.

* All companies share a Chart of Accounts.

* Two dimensions are used: Department and Division.

* Budgeting is controlled at the department level.

* Customers and vendors are defined as two groups: Domestic and International.

* Mandatory credit check is set to No.

* Consolidate online is used for the consolidation of all companies.

* International main accounts are subject to foreign currency revaluation.

* The purchasing budget is used to enforce purchasing limits.

General ledger accounts

Fourth Coffee

* The base currency is USD.

* Three item groups are used: coffee, supplies, and nonstock.

* The standard sales tax method is used.

* Acquiring fixed assets requires a purchase order.

* All customer payment journals require a deposit slip.

* CustomerX is a taxable company.

* CustomerY is a tax-exempt company.

* CustomerZ is a taxable company.

* VendorA is a Colombian supplier of coffee beans and belongs to the international vendor group.

* VendorB is a Peruvian supplier of coffee machine filters and belongs to the international vendor group.

* VendorC is a Texas supplier of espresso valves and belongs to the domestic vendor group.

CompanyA

* The base currency is USD.

* It consists of a marketing department and a digital division.

* A 4-5-4 calendar structure is used.

* The standard sales tax method is used.

CompanyB

* The base currency is CAD.

* The conditional sales tax method is used. Requirements

Reporting

* A consolidated Fourth Coffee financial report is required in USD currency.

* Fourth Coffee and its subsidiaries need to be able to report sales by item type.

* Year-end adjustments need to be reported separately in a different period to view financial reporting inclusive and exclusive of year-end adjustments.

Issues

* User1 observes that a General journal was used in error to post to the Domestic Accounts

Receivable trade account.

* User2 has to repeatedly reclassify vendor invoice journals in Fourth Coffee Company that are posted to the marketing department and digital division.

* When User3 posts an Accounts receivable payment journal, a deposit slip is not generated.

* User4 observes an increase in procurement department expenses for supplies.

* User5 observes that sales tax is not calculating on a sales order for CustomerZ.

* User6 observes that sales tax is calculating for CustomerY.

* User7 observes that the sales tax payment report is excluding posted invoice transactions.

* User8 in CompanyA attempts to set up the sales tax receivable account on the sales tax posting form.

* User9 in CompanyA needs to purchase three tablets by using a purchase order and record the devices as fixed assets.

* CustomerX requires a credit check when making a purchase and is currently at their credit limit.

HOTSPOT

You need to configure settings to resolve User1’s issue.

Which settings should you use? To answer, select the appropriate options in the answer area. NOTE: Each correct selection is worth one point.

37. HOTSPOT

You need to configure expense management tor Humongous Insurance and its subsidiary.

Which options should you use? To answer select the appropriate options in me answer area. NOTE: Each correct selection is worth one point.

38. HOTSPOT

A company has delinquent customers.

You need to configure Dynamics 365 for Finance and Operations to meet the following requirements:

• Send communication to the customers detailing their past-due invoices.

• Use the system to automatically calculate a late charges,

• Create a group of customers for a collection agent to monitor.

• View a list of customers with colored indicators of a customer's payment status.

You need to associate the correct system functionality to manage delinquent customers based on these business requirements.

39. A client has multiple legal entities set up in Dynamics 365 for Finance and Operations. All companies and data reside in Finance and Operations, The client currently uses a separate reporting tool to perform their financial consolidation and eliminations, They want to use Finance and Operations instead.

You need to configure the system and correctly perform eliminations.

Solution: Create a separate company in which you manually create the eliminations. Then, use that company in Financial reporting or in the consolidation process.

Does the solution meet the goal?

40. DRAG DROP

An organization sells monthly service subscriptions. The organization sends invoices to customers on the 15th of every month in the amount of $450.00.

You need to set up, configure, and process recurring free text invoices for the customers.

In which order should you perform the actions? To answer, move all actions from the list of actions to the answer area and arrange them in the correct order.